Some Traders Are Very Bearish on Shenandoah Telecommunications Company (SHEN) After Forming Double Bottom Pattern

June 21, 2018 - By Jason Grubb

Shenandoah Telecommunications Company (NASDAQ:SHEN) Logo

Investors sentiment decreased to 1 in Q1 2018. Its down 0.04, from 1.04 in 2017Q4. It fall, as 10 investors sold Shenandoah Telecommunications Company shares while 34 reduced holdings. 16 funds opened positions while 28 raised stakes. 21.80 million shares or 0.70% less from 21.95 million shares in 2017Q4 were reported.
Manufacturers Life The holds 0% of its portfolio in Shenandoah Telecommunications Company (NASDAQ:SHEN) for 55,448 shares. 56,269 are owned by Aqr Management Limited Liability Corp. 77,007 are owned by Sg Americas Secs. Timessquare Ltd Co reported 0.39% in Shenandoah Telecommunications Company (NASDAQ:SHEN). Sei Invests stated it has 30 shares. Schwab Charles Invest Incorporated owns 244,593 shares for 0.01% of their portfolio. Legal & General Grp Public Ltd Llc reported 0% stake. Lpl Limited Liability holds 0% in Shenandoah Telecommunications Company (NASDAQ:SHEN) or 9,674 shares. Vanguard Grp Inc Inc invested in 4.68M shares or 0.01% of the stock. Natl Bank Of Montreal Can holds 297 shares. Prudential, a New Jersey-based fund reported 136,069 shares. The Texas-based Dimensional Fund Advisors L P has invested 0.03% in Shenandoah Telecommunications Company (NASDAQ:SHEN). Morgan Stanley, New York-based fund reported 104,936 shares. Parametric Portfolio Associate Limited stated it has 35,204 shares. Us Savings Bank De stated it has 0% of its portfolio in Shenandoah Telecommunications Company (NASDAQ:SHEN).

Since March 19, 2018, it had 0 insider buys, and 5 selling transactions for $1.49 million activity. Shares for $2,759 were sold by SCHULTZ LEIGH ANN. $720,005 worth of Shenandoah Telecommunications Company (NASDAQ:SHEN) was sold by PIRTLE WILLIAM L on Wednesday, March 28. McKay Edward H had sold 10,000 shares worth $363,100. BURCH KEN L also sold $36,300 worth of Shenandoah Telecommunications Company (NASDAQ:SHEN) shares.

The chart of Shenandoah Telecommunications Company (SHEN) shows a double bottom with $32.25 target or 3.00 % below today’s $33.25 share price. The 6 months chart pattern indicates high risk for the $1.65B company. It was reported on Jun, 21 by Finviz.com. If the $32.25 price target is reached, the company will be worth $49.41M less. Double bottoms are rare but powerful chart patterns.

The stock decreased 1.04% or $0.35 during the last trading session, reaching $33.25. About 30,330 shares traded. Shenandoah Telecommunications Company (NASDAQ:SHEN) has declined 0.82% since June 21, 2017 and is downtrending. It has underperformed by 13.39% the S&P500.

Analysts await Shenandoah Telecommunications Company (NASDAQ:SHEN) to report earnings on August, 1. SHEN’s profit will be $4.95M for 83.13 P/E if the $0.10 EPS becomes a reality. After $0.10 actual earnings per share reported by Shenandoah Telecommunications Company for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Shenandoah Telecommunications Company (NASDAQ:SHEN) Ratings Coverage

Among 2 analysts covering Shenandoah Telecommunications Co (NASDAQ:SHEN), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Shenandoah Telecommunications Co had 2 analyst reports since January 24, 2018 according to SRatingsIntel. As per Friday, May 4, the company rating was downgraded by Raymond James.

Another recent and important Shenandoah Telecommunications Company (NASDAQ:SHEN) news was published by Nasdaq.com which published an article titled: “New Research Coverage Highlights Astec Industries, Prothena Corporation plc, Kornit Digital, Limoneira, Shenandoah …” on June 05, 2018.

Shenandoah Telecommunications Company, through its subsidiaries, provides regulated and unregulated telecommunications services to end-user clients and other telecommunications providers in Virginia, West Virginia, central Pennsylvania, western Maryland, and portions of Kentucky and Ohio. The company has market cap of $1.65 billion. It offers a suite of voice, video, and data communications services. It has a 25 P/E ratio. The firm operates in three divisions: Wireless, Cable, and Wireline.

Shenandoah Telecommunications Company (NASDAQ:SHEN) Institutional Positions Chart

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